A10 Networks Inc. (NYSE:ATEN) was downgraded by research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday. They presently have a $11.50 price objective on the stock. DA Davidson’s price target suggests a potential upside of 17.95% from the company’s previous close. The analysts noted that the move was a valuation call.
Several other brokerages also recently commented on ATEN. Zacks Investment Research downgraded A10 Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Dougherty & Co raised their target price on A10 Networks from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 29th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $9.00 target price (up previously from $8.00) on shares of A10 Networks in a research note on Tuesday, August 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $9.17.
Shares of A10 Networks (NYSE:ATEN) opened at 9.75 on Wednesday. The stock’s 50 day moving average price is $10.13 and its 200 day moving average price is $7.52. The company’s market capitalization is $575.54 million. A10 Networks has a 12-month low of $4.84 and a 12-month high of $10.87.
A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company earned $57.10 million during the quarter, compared to the consensus estimate of $56.07 million. A10 Networks had a negative return on equity of 37.97% and a negative net margin of 14.10%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, equities research analysts forecast that A10 Networks will post ($0.09) earnings per share for the current year.
In other A10 Networks news, VP Robert D. Cochran sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $7.00, for a total value of $35,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert D. Cochran sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $9.91, for a total value of $69,370.00. Following the completion of the sale, the vice president now directly owns 146,728 shares in the company, valued at approximately $1,454,074.48. The disclosure for this sale can be found here. 34.05% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake in A10 Networks by 1.0% in the first quarter. Franklin Resources Inc. now owns 2,867,061 shares of the company’s stock valued at $16,973,000 after buying an additional 29,375 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of A10 Networks by 15.7% in the second quarter. Vanguard Group Inc. now owns 2,376,458 shares of the company’s stock worth $15,375,000 after buying an additional 322,617 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of A10 Networks by 31.0% in the second quarter. BlackRock Fund Advisors now owns 1,150,356 shares of the company’s stock worth $7,443,000 after buying an additional 272,551 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of A10 Networks by 59.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 962,793 shares of the company’s stock worth $6,229,000 after buying an additional 360,814 shares in the last quarter. Finally, Spark Investment Management LLC boosted its position in shares of A10 Networks by 55.5% in the first quarter. Spark Investment Management LLC now owns 698,300 shares of the company’s stock worth $4,133,000 after buying an additional 249,300 shares in the last quarter. 46.70% of the stock is currently owned by hedge funds and other institutional investors.
About A10 Networks
A10 Networks, Inc is a provider of application networking and network security technologies. The Company’s solutions enable enterprises, service providers, Web companies and government organizations to secure and optimize the performance of their data center applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.
Receive News & Ratings for A10 Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for A10 Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.